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On September 12, Vander Company sold merchandise in the amount of $5.900 to Jepson Company, with credit terms of 3/10,n/30. The cost of the items
On September 12, Vander Company sold merchandise in the amount of $5.900 to Jepson Company, with credit terms of 3/10,n/30. The cost of the items sold is $4.100. Vander uses the periodic inventory system and the gross method of accounting for sales. The journal entry or entries that Vander will make on September 12 is (are): Multiple Choice 5,982 Sales Accounts receivable 5,9eel 5,988 5,9eel Sales Accounts receivable Cost of goods sold Merchandise Inventory 4,1eel 4,180 5,980 Accounts receivable Sales 5,988 5,982 5,9801 Accounts receivable Sales cost of goods sold Merchandise Inventory 4,100 4,100 O Accounts receivable Sales 4,1eel 4,100 A company purchased $3.300 worth of merchandise. Transportation costs were an additional $290. The company returned $230 worth of merchandise and then paid the invoice within the 3% cash discount period. The total cost of this merchandise is: Multiple Choice $3.240.00 $3,093.00 $3.261.00 $3.267.90 $3.360.00
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